Compliance

Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.

Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.

The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.

The railroad industry executive will replace Raymond Fortin as general counsel.

American Express Co. said it expects recently passed changes in U.S. tax laws will reduce fourth-quarter earnings by about $2.4 billion, resulting in a net loss for the period.

The payments industry is getting pulled in two directions, as technology and e-commerce promise a borderless future for transactions while political forces apply the brakes.

If acting CFPB Director Mick Mulvaney ultimately prevails in the lawsuit challenging his position, he is expected to continue implementing the most significant changes to the agency in its six-year history.

It will pay $11.5 million to resolve Finra claims that a brokerage unit displayed inaccurate research ratings for hundreds of securities for nearly five years.

The South Korea Financial Services Commission has acted on its concern that the growing popularity and speculation in bitcoin and other cryptocurrencies would become dangerous.

China's central bank has put the brakes on mobile and e-commerce payment schemes in the past, mostly from the standpoint of having a wary eye on third-party players elbowing their way into financial services.

China's Ant Financial Group, the company behind Alipay, was among eight companies that EMV standards governing body EMVCo has named as technical associates to its secure-payment consortium.

The Consumer Financial Protection Bureau on Wednesday launched a rate spread calculator and validation tool for financial companies reporting Home Mortgage Disclosure Act data starting Jan. 1.

Was the president’s recent tweet about enforcement measures against Wells Fargo an articulation of the administration’s approach for holding banks and executives accountable? Or is a tweet just a tweet?

For all of the noise in the payments industry around transitioning to real-time and same-day digital payments — and in the mainstream media around the bitcoin craze — paper checks still persist as the preferred means of disbursement for the majority of business-to-business transactions.

Russia will get a countrywide biometric database for financial services starting next summer, the central bank said.

The regulator on Thursday announced a delay in the implementation of its prepaid rule, along with safe harbor for HMDA data reporting.

Once 2018 arrives, significant new payment and data-sharing rules will take effect in Europe, and the fallout is expected to affect banks, merchants and technology vendors globally.

Moments after the Consumer Financial Protection Bureau said it would reopen its mortgage disclosure rule, the bureau announced that the effective date for the prepaid rule would similarly be scrapped.

The Consumer Financial Protection Bureau said Thursday that it plans to reopen its rulemaking for the Home Mortgage Disclosure Act and will not assess penalties against mortgage lenders for any errors in data collected in 2018.

Investors in bitcoin and other virtual currencies would lose a lucrative tax break under the Republican tax bill.